What is the monetary unit of Cuba?

Answer 1

The money unit used in Cuba is called 'Peso', 'Cuban Peso', to differentiate it from other currencies names of Latin American countries. There is another official currency, the 'convertible peso', which is the currency in which Cuban workers receive their wages.

Answer 2

According to the CIA - The World Factbook, it should be Cuban peso (CUP) and Convertible peso (CUC)

Convertible pesos per US dollar - 0.9259 (2007), 0.9231 (2006)

note: Cuba has two currencies in circulation: the Cuban peso (CUP) and the convertible peso (CUC); in April 2005 the official exchange rate changed from $1 per CUC to $1.08 per CUC (0.93 CUC per $1), both for individuals and enterprises; individuals can buy 24 Cuban pesos (CUP) for each CUC sold, or sell 25 Cuban pesos for each CUC bought; enterprises, however, must exchange CUP and CUC at a 1:1 ratio.

Answer 3

There are 2 currencies in Cuba. The national money is the Cuban peso which is about 25 pesos per 1 US Dollar. Cubans are paid mostly in these pesos, and partly in the CUC or convertible peso (chavito), which is tied to the US dollar.

The currency you would receive as a tourist is the convertible peso or CUC. The CUC is tied to the US Dollar and is used for luxury items and tourist purchases in so-called "dollar shops." The Cuban government charges a 10% tax on exchanges of US dollars.

It is important that you only change money in the banks of Cuba because of the risk of getting pesos instead of CUCs. Tourist shops cannot officially accept pesos.

Prices in Cuba are highly controlled by the government, which results in cheaper prices for goods purchased everyday (in pesos) by native Cubans.

Answer 4

The Cuban monetary unit is the Cuban peso. They come in 1,3,5,10,20,50,and 100 peso denominations. There are also 1 and 3 peso coins.

Answer 5

The unit of currency in Cuba is the generally the peso. The tourist economy of Cuba, however, uses Convertible pesos. Convertible pesos is set at par with the United States dollar.

Answer 6

The Cuban peso

Answer 7

Cuban Peso